Grubhub (GRUB, $63.84) trading halted, following reports of Uber wanting to acquire the company
On Tuesday, trading on Grubhub shares were halted for a second time on the New York Stock Exchange, following the more than +35% jump in the stock price on reports of Uber showing interest in the company.
Citing people familiar with the matter and who did not want to be named, Bloomberg reported that Uber approached the online food ordering company with an acquisition offer, and that a deal could be reached this month.
Uber is closing its own food-delivery business, Uber Eats, in seven countries where the service has turned out to be unpopular, it said last week.
No official comment has come from either Grubhub or Uber.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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General Information
Provides online and mobile food ordering services
Industry InternetRetail
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